Freddie Mac Prices Fifth STACR Offering This Year

FrauddieMac

Freddie Mac Prices Fifth STACR Offering This Year

MCLEAN, VA–(Marketwired – Jun 7, 2016) – Freddie Mac (OTCQB: FMCC) priced its fifth offering this year of Structured Agency Credit Risk (STACR®) debt notes. Through the award-winning and innovative STACR program, Freddie Mac transfers a portion of its credit risk on certain single-family loans to private capital market investors.

Pricing for STACR 2016-DNA3:

  • M-1 class was one-month LIBOR plus a spread of 110 basis points.
  • M-2 class was one month LIBOR plus a spread of 200 basis points.
  • M-3 class was one month LIBOR plus a spread of 500 basis points.
  • B class was one month LIBOR plus a spread of 1,125 basis points.

The $795 million STACR 2016-DNA3 offering has a reference pool of recently-acquired Single-Family mortgages with an unpaid principal balance of more than $26.4 billion. Freddie Mac holds the senior loss risk in the capital structure, and a portion of the risk in the Class M-1, M-2, M-3, and the first loss Class B tranches.

Credit Suisse and Barclays will serve as co-lead managers and joint bookrunners. BNP Paribas, BofA Merrill Lynch, Citigroup and Nomura are co-managers, and Bonwick Capital is the selling group member.

Freddie Mac has a STACR issuance calendar to help investors plan their allocations. The calendar is available on the Credit Risk Offerings page of the company’s web site at www.FreddieMac.com.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac’s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission (SEC) on February 18, 2016; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2015, excluding any information furnished to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information furnished to the SEC on Form 8-K.

More here…

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